The overall situation in the countries of the Economic and Monetary Community of Central Africa (CEMAC) in the first half of 2020 is marked by a downward trend in the supply of credit observed since the second half of 2018, reports the Bank of States of Central Africa (BEAC).
In a conjuncture note published on June 14, 2021 that Financial Afrik was able to consult, the Central Bank notes that the total amount of new loans put in place during this semester stood at 3,009 billion FCFA (5.5 billion) down 17.98% compared to the previous semester of 3,668 billion ($ 6.6 billion) and down 20.78% compared to the first half of 2019.
The overall effective rate (TEG) of credit institutions suggests that the bulk of loans are granted by banks, to the tune of 2,979 billion, or 99.02% of the market share. This means that the activity of financial institutions remains marginal, with only 0.98% market share, or a total of 29.42 billion loans granted over the period.
The analysis by country shows a great disparity in the amounts of new loans; credit institutions established in Cameroon and Gabon account for nearly 75.66% of new loans granted over the period. With 1,866 billion Cameroon consolidates its position as the locomotive of the CEMAC and concentrates more than half of the loans followed by far by Gabon, with 409 billion.
By analyzing the type of beneficiaries, it emerges that the loans granted are mainly intended for large companies and SMEs which respectively account for 63.83% and 18.15% of the loans granted, individuals having only benefited from 10.4%. of the total new financing granted during the reference period.
In addition, the disparity of TEGs can also be observed between countries since those practiced in Cameroon, Congo and Chad are on average lower than those practiced by credit institutions established in the Central African Republic, Gabon and Equatorial Guinea.
Although the debt ratios are the same, the decline in credit which coincides with the entry into force of the new exchange rate policy depends on both the complexity of the market and the difficult economic environment.